Autos & Motorbikes

Fiat is the largest car owner of Italy and Chrysler which is the US subsidiary of it and owns a stake of 20% in it, has announced that there will be an investment as huge as $1.3 billion in order to make cars and sports cars. The first one to be rolled out is the Alfa Romeo Jeep. This will take place in Turin in Italy where Fiat has a large workshop.

This will enable a joint venture in the ability to bring on a production for cars and SUVs that have a market in the US but are manufactured elsewhere. The investment of $1.3 billion which has been chalked out for this is going to be divided equally amongst both the car manufacturers that is Fiat and Chrysler. The initial plan is to make about 280,000 cars. These cars are going to be sold locally in Italy, in the whole of Europe and the North American market as well.

The new Alfa Romeo was unveiled by the chief executive officer in the plant at Turin amidst the workforce. The workers were told that this is the perfect platform for Italian car makers to go on and showcase the kind of work that they can have done. Also, it will give them a cutting edge to be able to compete in the global scenario. The plant has all the possible infrastructure, tools and resources to be able to become the very best and make cars that can be sold around the world.

Tags: Alfa Romeo, Chrysler, Fiat, Jeep, SUV

This entry was posted on Sunday, November 28th, 2010 at 20:02 and is filed under Chrysler, Fiat. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.